CandleFocus Bitcoin (BTC) Dominance Hits 60 Despite Major Price Reversal
2024-11-03
Author: Content Editor
The recent market dynamics in the cryptocurrency industry have led to a significant shift in Bitcoin's dominance. After a period of altcoin optimism, Bitcoin has once again taken the lead with a 60% market dominance. Altcoins have been losing value against Bitcoin despite Bitcoin's price increase in USD terms, primarily due to Bitcoin's own upward movement. This trend has been influenced by Bitcoin's recent surge, which allowed it to outperform smaller coins. Altcoins have struggled to maintain momentum since March when Bitcoin reached new highs. The price of Bitcoin has experienced selling pressure and failed to hold above the $70,000 level. Key support levels at $67,000, $64,000, and $62,000 will be important to watch for potential stabilization. Bitcoin's dominance has a broad impact on the market, and altcoins are likely to continue to struggle as long as Bitcoin remains strong. This dominance cycle suggests that Bitcoin will continue to dominate altcoin performance until it establishes a stable base near its recent highs, potentially giving altcoins a chance to recover.
Related News
Best Low-Cost Cryptos Under $0.10 to Watch for Explosive Growth Potential Kaspa (KAS) Price Fluctuations Signal Potential Bullish Move Above $0.12 XRP Attracts Major Investors as Market Dynamics Shift in 2024 Solana DeFi Momentum Soars With $5.7 Billion Locked In Q3 Watch Out: 18 Altcoins Have Massive Token Unlocks in the New Week – Here’s the Day-by-Day, Hour-by-Hour List Transak Canada Achieves FINTRAC Registration Trump’s lead over Harris on Polymarket weakens, as Bitcoin drops to $68,000 ETFs Amass Over a Million BTC: What This Means for Future Market Stability Whale Activity Soars, Major Investors Bet Big on Bitcoin Amid Price Dips Wiz Khalifa’s Twitter allegedly hacked to promote scam coin Bitcoin Volatility Jumps to 3-Month High Ahead of U.S. Election Bitcoin price falls, forward volatility jumps as traders brace for election: Analyst Core DAO Sees Huge Weekly Development with Growing Transactions and Active Wallets Why Solana’s Current Phase Could Be the Launchpad for a Q1 2025 Breakout Blockchain interest falls 58% in three years as focus shifts to AI Maker (MKR) Price Set For 20% Rally Despite Market Headwinds Bitcoin Nears Support Levels, Is a Big Bullish Rebound on the Horizon? Why the Upcoming Golden Cross in Dogecoin Could Spark High Volatility Will Cardano Price Hit $0.5 In November? Crypto casino Metawin loses $4 million to exploit of Ethereum, Solana hot wallets Bitcoin mining difficulty breaks yet another all-time high Top 10 Coins by Social Engagement: $BTC, $GNO, $SOL Lead LunarCrush Galaxy Scores 3 TON Charts Signaling a Major Toncoin Price Rally This November What Are Layer-2 Networks and Sidechains? Ethereum Scaling Explained Bitcoin, Ethereum fall: Whales panic as market corrects Watch Out: 5 Altcoins in South Korea See Trading Volume Boom – Here’s the List Binance co-founder clarifies asset listing policies, dispels FUD Mantra (OM) Price Analysis: Could A Bullish Breakout Be Coming? Watch Out: Entering a Very Critical Week – There Will Be Numerous Economic Developments and Altcoin Events in the New Week – Here is... Solana Likely To Target $200 ‘If It Holds Current Support’ – What To Expect Ethereum Price Analysis: Is ETH Doomed to Dump to $2.1K After Recent Rejection? Craig Wright Outlines Ambitious Scaling Plan for Bitcoin as a Global Payment System Shiba Inu (SHIB) Golden Cross Drama Takes Unexpected Turn Companies without a crypto wallet will be left behind Bitcoin Technical Analysis—BTC Struggles Near $68K as Mixed Signals Emerge Bitcoin Interest Rebounds After Price Uptick—What Google Trends Metrics Show Traders Bet Against Toncoin (TON) Recovery as Price Drops Under $5 Trader turns $44,800 into $1.4 million with Peanut (Pnut) the squirrel Donald Trump’s World Liberty will limit token sales in the US to $30 million $96,100 per Bitcoin (BTC) for Miners: What's Happening? Expert warns Bitcoin 'will witness the biggest crash in years' after bull trap 7 favorite words and phrases used by crypto shillers Tap-to-Earn Isn't a Telegram Game Genre, It's a Launch Strategy: TON Society Founder Top Crypto Gainers of The Day, $GRASS, $XOR, & $OGN Leading the Pack Bitcoin analyst sees $66K 'local bottom' as BTC price liquidates $200M Dogecoin Analyst Reveals Buying Opportunities At Lower Prices – Details Bitcoin Pulls Under $68K as Crypto Markets Falter Ahead of Election XRP Price Prediction for November 3 Bitcoin (BTC) Price Prediction for November 3 Cardano Creator Faces Key Controversy in ADA Community Aptos Teams Up with SimpleHash to Boost Developer Support TRON Network Records an Enormous 1928% Rise in Volume Since October 2023 Cantor Fitzgerald CEO with $13.2 Billion Wealth Reveals How Much Bitcoin He Owns BTC, EIGEN, KAS: Top cryptocurrencies to watch this week 7.72 Billion Dogecoin in 24 Hours: Yet DOGE Price in Red MrBeast, Andrew Tate and 8 other celebrities with messy crypto promotions $114,000 BTC Price Forecast Comes to Light as Analsyts Expect Blast Off Move to $80,000 Price Soon Ronin Integrates Chainlink’s CCIP for Enhanced Security Will Ethereum Price Fail $3,000 Breakout as Whale Selling Prolongs? Crypto wins the people’s vote: Lessons from the 2024 US elections | Opinion 'Rich Dad, Poor Dad' Author Kiyosaki Warns: 'Banking Crash Begun' Only 628 Billion Shiba Inu (SHIB) in 24 Hours: Did Whales Give Up? Shiba Inu Soars 6,153% in Weekly Burns, How Much SHIB Was Burned Bitcoin ETF Flows Are 'Massive Red Flag,' Analyst Says Economist Alex Krüger Unveils Election Prediction for Bitcoin, Says BTC Could ‘Shoot Straight Up’ – Here’s Why BTC and ETH Dominate the Top Liquidations List with Over $55M and More Death Crossover In RSI: Helium Price About To Face Offloading? Top Analyst Says Bitcoin Bulls in ‘Dangerous’ Position, Warns BTC Flush-Out Scenario on the Table Bitcoin (BTC) Plunges to $67K as Ethereum (ETH) Approaches Key Support Crypto projects to unlock $2.6B in tokens in November Bitcoin (BTC) Breaks Below Realized Price, Hindering Hopes of $72,000 Rebound Bitcoin (BTC) Dominance Hits 60 Despite Major Price Reversal Nexo App: the platform to earn and lend crypto Joe Rogan, Trump, and the Power of Decentralized Media Crypto security incidents in October lead to $129M in losses: CertiK LUNC Price Prediction: Terra Classic Price is Plunging TBILL Dominates Tokenized Securities Market Amid Calls for Ethical Standards RNDR’s Price Action: Key Resistance Levels and Market Trends to Watch Bitcoin mining bans may lead to 'unintended consequences' for environment These Altcoins Dump the Most as Bitcoin (BTC) Dropped Below $68K (Weekend Watch) Binance Coin (BNB) price prediction: Inverse H&S points to a rebound Big Whale Made a Mistake This Time: He Missed $1.6 Million in Profit on This Altcoin dYdX price prediction 2024 – 2030: Will dYdX hit $10? Top Altcoins by Market Cap: Bitcoin Holds Steady, Altcoins See Mixed Performance Nation State-Level Bitcoin Investment Could Reach Billions Monthly, Industry Expert Says Solana Attracts Investors as U.S. Election Approaches Saylor falls for fake Trump news, Kraken restructures, and more: Hodler’s Digest, Oct. 27 – Nov. 2 Just In: Robinhood Crypto Again Supports Dogecoin Transfers Ethereum, Tron, and Solana Dominate the TVL Charts 3 New Cryptos Launched This Week to Keep an Eye On Bloomberg Analyst Defends Bitcoin ETFs Impact On BTC Price 3 Altcoins That Could Be Weekly Gainers Next Week Bitcoin price peels back from its weekly high, but BTC derivatives markets look good China’s Central Bank Official Says Satoshi Nakamoto "Deserves High Respect" Crypto Trader Makes $7M Profit With GOAT, Smart Money or Insider Trading?